Download our free statement of account template in Excel at the end of this page.
A billing statement of account or customer statement is a summary of all the transactions that have taken place between a customer and a business over a period of time. The statement will show both the date of the transaction and the amount owed.
Customers typically receive a statement of account monthly, although businesses may send them out more frequently if the customer has a history of late payments.
The template also includes easy-to-use remittance advice to complete with their payment.
We have included simple image examples to assist with editing the statement.
For businesses, statements of account can be an essential tool for managing receivables and Collections. By sending customers regular statements, businesses can track who owes them money and how much they owe. This information can then be used to follow up with customers behind on their payments.
Account statements can help to improve cash flow management by getting paid quicker by customers. Sending regular statements is part of credit control procedures.
In short, an account statement is an essential part of doing business. They help businesses keep track of their receivables and ensure that customers pay their bills on time.
If you have many customers producing monthly statements will be time-consuming. The easiest way to create an account statement for a business is by using accounting software. This will allow you to quickly generate accurate statements and send reminders to customers so that debts can be collected quickly and improve your cash flow.
Many different types of software can do this, such as QuickBooks, FreshBooks and Xero.
After downloading the billing statement template, you will need to brand it for your business. All the entries on the main statement side will be copied to the remittance advice section to save time.
• Delete ‘Your logo here’. If you have a logo, upload it and adjust the size to fit the box. To insert logo: Insert – picture – choose an image from the file.
• Enter your business name, company address and contact details.
• At the bottom is a section to enter your bank details for payment; this makes it easier for the customer to pay with online banking.
• Save the document, which will act as a template.
Once you have an account statement template, you can start to process customer statements. If you have a regular customer, it will be worth entering their details in the section and saving the document as a template in the customer name. It will save time when you want to issue a new statement to the same client.
Enter the statement date.
You are now ready to enter the sales financial transactions into the template.
From your sales invoices or credit note, start entering the unpaid invoices. Complete the invoice details in each column, including the date, invoice number or credit number and amount. Each transaction is copied to the remittance section. All the invoices posted are automatically totalled at the bottom, enabling you to see how much they owe.
Date format – the form is set to dd/mm/yyyy if you want to change the format:
• Highlight the date cells
• Right mouse click
• Format cells
• Date
• Choose the correct format (Do this on both sides)
When all the details are entered, save the document as a new file. If you regularly send statements to a customer, you may want to set up a new folder to keep all the statements for that customer.
Below is an example of the completed billing statement template.
The statement is ready to either post or email to your client. If it is emailed, the customer can mark any invoices with a ‘y’ that he is paying and return them to you. With the paper version, they can complete it by hand and return it.
By downloading our free templates, you agree to our licence agreement, allowing you to use the templates for your own personal or business use only. You may not share, distribute, or resell the templates to anyone else in any way.
